New ePayments system for oil and gas disbursements

JC Data and Neofirma team on hosted, energy-focused payment system.

JC Data Solutions has teamed with Neofirma to combine JC Data’s payment management services integrated with Neofirma’s online energy asset management. The joint offering targets efficiencies in oil and gas disbursements and financial data management. The new ‘Payment Manager’ (PM) solution is a hosted service for energy companies managing monthly payments to royalty and working interest holders. PM links a company’s existing accounting system to payee information, posts payee statements online, issues email notifications, print checks and archives statements. PM uses Neofirma’s hosted service to administer and communicate with payment stakeholders.

Neofirma CEO Jim Holder said, ‘Market research revealed this to be an area that was underserved in the oil and gas sector – or geared to costly services to very large organizations. Combining our industry-specific solutions into an integrated offering allows us to provide an immediate cost-effective solution to an expensive and growing problem.’ Neofirma provides databases and secure on-line reports to track land and lease obligations, supervise the exploration process, optimize daily operations and manage payments.

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